Vera Protocol AMA Recap

01 Sep 202015:08

AMA

Vera Protocol AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here:

Denis Lam, CEO of Vera Protocol

Denis Lam

👋 Hello

Cryptodiffer Team

Our team has prepared 3 questions for you to start with:
Let`s start with the introduction !
Q1: Can you introduce yourself to our community?

Denis Lam

Thank You!

I am software developer 17 years now, across multiple industries. focused on FinTech 12 yeas, and blockchain 6 years. Excited about the NFT DeFi space.
Done

Cryptodiffer Team

Q2: Can you introduce Vera Protocol to us?

Denis Lam

Vera is DeFi liquidity engine for real world assets represented by NFT. Both digital and physical. Veral enables issuing NFT, linking assets to NFT, and DeFi of these assets including Lending, Borrowing, Exchange, and liquidity pools.
Done

Cryptodiffer Team

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans

Denis Lam

MVP development is already underway. in Q2 we will release the POC demo. Q3, continue the protocol development and release more documentation for 3rd party and open source developers to build on top of our protocol. Q1 2022 we will start integration with other Defi protocols, and design more cross chain integration.
Done

Cryptodiffer Community

What was the motivation behind the idea to start/create the Vera Protocol? And what gap did you deem necessary to fill with the creation of the Vera Protocol project?

Denis Lam

to bring liquidity to NFT, in practical way and cross chain. NFTs today are illiquid, and DeFi functionality on them practically don't exists.

Cryptodiffer Community

🦋What markets is Vera Protocol targeting? What is your main focus at the moment?

Denis Lam

We are building infrastructure that will serve large variaties of markets. Starting from digital art, IP, to real estate. We already talking with multiple partners across multiple network who are interested in using our tech.

Cryptodiffer Community

What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?

Denis Lam

With every DeFi operation like Lending Borrowing and exchange there are fees associated with it. with large volume these fees adds up. with our B2B and B2C models we will have multiple revenue streams.

for BD, we are targiting Video Games, to allow users inside the game to exchange and lease their assets. also online markets for digital pictures.

Cryptodiffer Community

What incentives have been put in place for users to get involved with the Vera Protocol?

Denis Lam

For end users, Vera will enable them better use the NFT they own, or borrow assets they need.

Vera token owner will be rewarded by a rev share of the total fee collected from the network.

Cryptodiffer Community

Can you tell me what are you core elements that make you a better choice that any other Centralized Protocol?

Denis Lam

Issuance, DeFi, OnBoarding are our 3 main focus. No one else is doing proper linking of real world assets with NFT, cross chain NFT DeFi and easy onboarding.

Cryptodiffer Community

How do VERA provide or source for liquidity, and what liquidity providers are you already working with to ensure a viable and sustainable ecosystem?

Denis Lam

We are building NFT liquidity pools to bring liquidity to NFT, we are also planing Interagation with multiple other DeFi networks to bring liquidity to Vera network, this will also add value to our partner networks.

Cryptodiffer Community

Do you have any Coin Burn or BuyBack system or do you have any plan to burn $ Token to increase token value and attract investors to invest in your project on Defi?

Denis Lam

we are in discussion with our partner to explore this possibility.

Cryptodiffer Team

Thanks for your time